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    Property profile & analytics

    218 State St Ithaca, NY 14850-5675

    • Investment properties
    • 2,574 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimation
    $325,000
    Last Sale
    Jan 28, 2025
    $324,000
    Location Intelligence
    Property ID
    US63-6172452
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Multifaceted Minerals / Jewelry Store

    Property Details for 218 State St

    Year built
    1975
    Lot size
    0.02 lot acres
    Property size
    2,574 SF
    Zone code
    CBD-60
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    500700 70.-3-10
    APU
    50070070310

    Description

    This exceptional investment opportunity presents a rare assemblage of three contiguous lots located at 218, 220, and 222 East State Street, situated at the top of Ithaca Commons. The property boasts a combined lot size of 3,070 square feet (0.07 acres) and is zoned CBD 60, allowing for a variety of commercial and residential uses within the vibrant Ithaca business district. The buildings currently feature a mix of retail and multifamily uses, including three retail spaces and a total of seven apartments, with two additional apartment spaces currently offline. The individual building square footage ranges from 858 to 1,121 square feet. This unique property offers significant potential for redevelopment or continued operation as a mixed-use asset in a highly desirable location. The asking price for this exceptional assemblage is $2,200,000. This is a truly unique opportunity to acquire a significant piece of Ithaca's thriving downtown core. The property's prime location and flexible zoning make it an ideal investment for both seasoned developers and astute investors seeking a high-return opportunity in a dynamic market. Don't miss this chance to own a piece of Ithaca's history and future.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $300,000

    • CAP approach

      CAP return
      Estimation
      6%
      $340,000
      6.5%
      $380,000
      7%
      $340,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $360,000
      Geo Method
      $390,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $330,000
      Retail
      $340,000
      Mixed-Use
      $300,000
      Hospitality
      $395,000
      Educational
      $315,000
      Residential Income
      $365,000
      Energy
      $340,000
      Income-Based Land
      $350,000
      Food Service
      $320,000

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.496
    Latitude
    42.4398
    CBSA code
    27060
    CBSA name
    ITHACA, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $7,695
    $68,000
    $157,000
    $225,000
    -
    $68,000
    $157,000
    $225,000

    Comparable in this City

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      414 Eddy St

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      408 Aurora St

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      401 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,220 SF
      401 State St, Ithaca, NY 14850-5219
      View Details
    • Value Estimation
      $315,000
      3,024 SF

      512 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,024 SF
      512 State St, Ithaca, NY 14850-5222
      View Details

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    218 State St
    Ithaca, NY 14850-5675
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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